PROPERTY developer Megaworld Corp. said Wednesday that it was set to start land development for the P12-billion San Benito Private Estate, a 25-hectare integrated wellness township in Lipa City.
The company said initial works would cover the construction of roads, key infrastructure and other vital components of the township, which is being developed in partnership with CG Hospitality Holdings, owner of The Farm at San Benito.
“The Philippines remains a premier global destination for medical and wellness tourism, which is why we are excited to jump-start the first phase of development of San Benito Private Estate,” said Kevin Tan, president and CEO of Megaworld parent firm Alliance Global Group.
Megaworld President and CEO Lourdes Gutierrez-Alfonso said the project would be anchored on sustainability, wellness and longevity, integrating global standards into a residential community.
CG Hospitality Managing Director said, “San Benito Private Estate, in partnership with The Farm, represents the next evolution of wellness hospitality — where everyday living is designed around prevention, recovery and longevity.”
Once completed, the estate will feature private villas, residential lots, commercial developments and curated leisure and wellness amenities, with residents given direct access to The Farm, a medical wellness resort.
Megaworld earlier said it had allocated P12 billion for the development, one of three township projects in Batangas, as it accelerates expansion outside Metro Manila.
CG Hospitality, for its part, said it plans to expand its wellness concept globally to 15 to 20 destinations over the next five years, with San Benito Private Estate positioned as the flagship model.
Megaworld’s share price rose by 3 centavos to close at P2.08 each on Wednesday.